Five-Unit Apartment
New
For Sale
$2,500,000
821 W 800 S, Salt Lake City, UT 84104
Residential, Salt Lake City, UT
Property Size6,774 SF
Lot Size0.16 Acres
Price / SF$369.06
Days on Market2
Property Features for 821 W 800 S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Zoning description
RMU-15
Bedrooms
15
Bathrooms
13
Full bathrooms
13
Rooms
Bedroom 9, Bathroom 13, Bedroom 8, Bedroom 6, Bedroom 12, Bedroom 15, Bathroom 2, Bathroom 12, Bathroom 5, Bedroom 10, Bathroom 11, Bathroom 1, Bedroom 5, Bedroom 14, Bathroom 10, Bedroom 11, Bathroom 8, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 6, Bathroom 4, Bedroom 7, Bedroom 13, Bathroom 3, Bedroom 2, Bathroom 7, Bathroom 9
Parking
5
Parking features
Covered
Patio and Porch features
Patio, Deck
Interior features
Vaulted Ceilings
Exterior features
Deck; Covered, Patio: Covered
Subdivision
ALBERT PLACE
Lot features
View: Mountain, Drip Irrigation: Auto- Full
Elementary school
Parkview
Middle school
Glendale
High school
Highland
Elementary school district
Salt Lake
Middle school district
Salt Lake
High school district
Salt Lake
Standard status
Active
APN
15-11-252-012
Size
6,774 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
9075
Utilities
Heating system
Electric (Heating)
Building Details
Year built
2026
Number of units
5
Flooring type
Carpet
Building materials
Aluminum, Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Real Estate Essentials
(801) 610-9563
Listed By:
Brandon Johnson · License #5497335-SA00
(801) 815-6464
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 23 at 9:06PM
MLS# 2186972
Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2026 apartment property comprises five units on a 0.16-acre site in Salt Lake City. The development includes 15 bedrooms and four private built-in garages. One ground-level residence combines permitted commercial space with direct street access and storefront-style windows, supporting an owner-occupied live/work arrangement or another approved business use. The residential units feature open-concept living areas, quartz countertops, white shaker cabinetry, stainless-steel appliances, light-oak luxury vinyl plank flooring, and matte-black finishes. Additional property features include vaulted ceilings, covered patios and decks, aluminum and brick construction, electric heating, and covered parking.
The property is located at 821 W 800 S near Downtown Salt Lake City's Granary District. The surrounding context includes access to freeways, public transportation, dining, shopping, and entertainment. Multi-Family zoning is identified for the property.
The property is located at 821 W 800 S near Downtown Salt Lake City's Granary District. The surrounding context includes access to freeways, public transportation, dining, shopping, and entertainment. Multi-Family zoning is identified for the property.
Key Highlights
- Five‑unit apartment development completed in 2026
- 15 bedrooms across the property
- Four private built‑in garages
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,964,320
$2.0M
Cap Rate 7%
$1,403,086
$1.4M
Cap Rate 9%
$1,091,289
$1.1M
Market Conditions
NOI Build-Up for 6,774 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$145.5K $21.48/SF
− Vacancy
−$14.6K −$2.15/SF
EGI
$131.0K $19.33/SF
− OpEx
−$32.7K −$4.83/SF
NOI
$98.2K $14.50/SF
Area
Salt Lake City, UT
Vacancy
10.00%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,964,320
Cap Rate 7%
$1,403,086
Cap Rate 9%
$1,091,289
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.64M
NOI $98,216 @ 7.0% cap · market cap 3.93%
Second Best
Mixed Use
$1.34M
$1.17M – $1.56M
NOI $93,481 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,751 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 84104, UT
23,487
Population
8,452
Households
2.8
Avg Household Size
31
Median Age
22%
College-Educated
78%
High-School Grad
21.6 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,326
Median Household Income
$35,013
Median Earnings
$1,235
Median Rent
$318,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New construction includes permitted ground-level commercial space with direct street access and storefront-style windows.
Where is this apartment building located?
The property is located at 821 W 800 S Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Five‑unit apartment development completed in 2026; 15 bedrooms across the property; Four private built‑in garages
